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Crystal Software Solutions Ltd.

BSE: 526033 Sector: IT
NSE: N.A. ISIN Code: INE665B01010
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Crystal Software Solutions Ltd. (CRYSTALSOFTWARE) - Director Report

Company director report

DIRECTORS REPORT

Dear Members,

Your Directors have great pleasure in presenting their TWENTY EIGHTTH ANNUAL REPORT andAudited Balance Sheet and Profit & Loss account for the year ended on 31st March 2012.

1 FINANCIAL RESULT:

Rs in Lacs
FY 11-12 FY 10-11
Revenue from Operations 7.75 6.61
Profit Before Interest, Depreciation & Tax (0.00) (0.00)
Interest - -
Depreciation 12.75 9.33
Income Tax - -
Deferred Tax - -
Net Profit/(Loss) (162.62) (24.34)

During the year under review the company has suffered a loss of Rs 16261858/- asagainst a Loss of Rs.2434364/- in the previous year.

2 DIVIDENDS: In view of the working of the Company your directors regret theirinability to declare any dividend.

3 BUSINESS: The company is running well and your directors are hopeful of doing goodbusiness this year.

4 BORROWINGS: Your directors acknowledge the co-operation and assistance provided bythe banks from time to time.

5 EMPLOYEES: In accordance with requirements of section 217 (2A) of the companies Act1956 we hereby state that there was no employee with the

6 AUDITORS: At the Annual General Meeting, Members are requested to re - appoint theAuditors for the current year and to fix their remuneration. The firm of Auditors M/s.Jain Ambavat & Associates hereby retires and the said firm is eligible forreappointment as Company's Auditors.

7 CONSERVATION OF ENERGY: There is nothing to be disclosed in the Directors Report asrequired by the Companies (Disclosure of particulars in the report of Board of Directors)Rule 1988 under section 217 (1) (e) of the Companies Act 1956, as such the details thereofhave not been given.

8 Director's Responsibility Statement Pursuant to section 217 (2AA)

In. terms of recent amendment to section 217 of the Companies Act, 1956, your directorshave to state as under in respect of the audited accounts for the year ended 31.03.2012

i) That in the preparation of the annual accounts, the proper accounting standards asapplicable have been followed along with proper explanation relating to materialdepartures;

ii) That the Directors have adopted such accounting policies and applied themconsistently and made judgements and estimates that are responsible and prudent so as togive a true and fair view of the state of affairs of the company at the end of thefinancial year and of the profit and loss of the company for the year;

iii) That the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance of this Act for safe guarding the assets of thecompany and preventing and detecting frauds and other irregularities;

iv) That the Directors have prepared the annual accounts on a going concern basis.

9 The certificate obtained from practicing Company Secretary in respect of compliancewith all the provisions of The Companies Act is attached herewith.

Your Directors take this opportunity to thank you all.

FOR & ON BEHALF OF BOARD OF DIRECTORS

DIRECTOR

Place: MUMBAI

Date: 31-Aug-12

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